Apple settles tax dispute in Italy

Apple's Italian subsidiary is to pay €318m to settle a tax dispute.

Apple Italia has agreed to pay €318m in taxes and is working out a deal to cover future tax liabilities for business it does in the country.

The case is one of several against global technology companies that use headquarters in low-tax nations like Ireland to avoid paying higher taxes in other countries, like Italy.

Milan prosecutors confirmed a report in Rome daily La Repubblica that Apple agreed to pay the sum for years spanning 2008-2013.

The prosecutors also said Apple and Italy are working to reach an accord on what the company’s tax liabilities will be for successive years.